🔥 #AUCTION# is Just Another Chart Like #TRB#



Apart from the name, there's not much difference.

Let me take you through the playbook 👇
➙ Whales withdrew huge amounts of #AUCTION# from exchanges (𝟮𝟲% 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆)
➙ Price started to go up due to supply crunch
➙ Retail looked at the price pump and tried shorting it
➙ Funding rate flipped negative and prices kept going up, resulting in a massive short squeeze
➙ Whales made money both from price appreciation by going long and also from a negative funding rate.
➙ After that, whales started depositing #AUCTION# on exchanges (𝟭𝟴% 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆)
➙ Price dumped 𝟳𝟬% 𝗶𝗻 𝗷𝘂𝘀𝘁 𝟮 𝗱𝗮𝘆𝘀, making a similar Burj Khalifa pattern.

With #AUCTION# , whales made money in 4 ways 👇
● Going long when prices were going up
● Negative funding rate
● Price appreciation after they bought
● By going short while they were dumping on spot

👀 Needless to say, retail lost money on this in every possible way.

cc: WiseAdvise 📌
AUCTION-9.35%
JST-3.89%
TRB-8.82%
NOT-10.9%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)